Formula 1 News

Sauber boss admits delay in Russian rescue deal

Just a few weeks ago, it looked like Sauber's future had been secured, but now there are suggestions that the financial deals are not quite done yet
Thursday, August 8, 2013

August 8th, 2013 (GMM) - Monisha Kaltenborn has admitted Sauber's Russian rescue deal is facing delays.

Despite reports of an enormous investment in the struggling Swiss team by Russian government-linked entities, we reported recently that the money is yet to start flowing.

Sauber's financial crisis, therefore, may not yet be over, with the German newspaper Welt reporting that Ferrari's ultimatum of a EUR 9 million engine supply bill being paid by the end of the August break is still in effect.

It is suggested the entire Sauber deal has to be signed off by none other than Russian president Vladimir Putin, and as yet he not done so.

Team boss Kaltenborn has admitted a delay.

Welt quoted her as saying it is only because of "bureaucratic obstacles and complex questions of detail", and did not elaborate.

Another German newspaper, Bild-Zeitung, reports that Kaltenborn and team founder Peter Sauber have kicked off their August 'break' with a trip to Moscow.

Correspondents Nicola Pohl, Frank Schneider and Helmut Uhl said the Sauber chiefs' visit to Russia is to "sign contracts with potential sponsors", because "no money is yet to flow" from the country in northern Eurasia.

Your Comments

 

Formula 1 News

Friday, November 28, 2014

Carlos Sainz named as Toro Rosso driver

Friday, November 28, 2014

Female Wolff named Williams test driver

F1plusStore

F1 Standings

Drivers
Teams
1 Lewis Hamilton 384
2 Nico Rosberg 317
3 Daniel Ricciardo 238
4 Valtteri Bottas 186
5 Sebastian Vettel 167
6 Fernando Alonso 159
1 Mercedes 701
2 Red Bull Racing 405
3 Williams F1 320
4 Ferrari 214
5 McLaren 187
6 Sahara Force India 152

View complete standings table »

F1plusStore

Last F1 Race

Abu Dhabi Grand Prix
Yas Island, Yas Marina Circuit
1
Lewis Hamilton
Mercedes
2
Felipe Massa
Williams F1
3
Valtteri Bottas
Williams F1
Fastest Lap

Daniel Ricciardo
1'44.496s

Pole Position

Nico Rosberg

View all »

 

Follow Us